Climate Finance Roadmap Remains Unclear
Ahead of COP30, Azerbaijan and Brazil provided limited details about a highly anticipated report on scaling up climate finance.
At the pre-COP meeting in Brazil, officials and civil society groups expressed disappointment over the lack of detail and limited discussion opportunities for the "Baku to Belém Roadmap to 1.3T" initiative.
- The initiative aims to raise $1.3 trillion of climate finance annually by 2035.
- The roadmap builds on a commitment for donor governments to raise $300 million annually for developing countries by 2035.
No clear understanding of the roadmap emerged at COP29 in Baku, with some clarity only emerging at June's mid-year talks in Bonn.
Author's summary: Climate finance roadmap lacks clarity ahead of COP30.